Good morning,

My father has asked me if it is possible to reclaim a life insurance policy which he took out with Friends Life, actual policy was with AXA Assurance).

When my father took out the policy he was not aware that the policy expired after 12 years (policy was taken out in 2004 and expired in 2016. He thought the policy was for the rest of his life and would pay out enough on his death to cover funeral costs etc.

I have asked him if he recalls receiving any documentation confirming this either from them directly or through the post and he does not recall receiving anything advising him an expiry date.

I have also personally checked through all of his paperwork and cannot find anything.

I am guessing I would need to do a Subject Access Request with the organisation, where would I go from here would I follow the same route as a PPI claim, what do you believe our chances would be of succeeding.

Any help/advice at all would be appreciated.

Thank you.

yes you can treat it like ppi

but an sar is a must first yes.

Not my subject area.

But can you advise the name of the product that was purchased, as someone can then look to see what cover it normally offers.

Was it a 12 year policy or did it finish in 2016, because your Father reached a certain age, where the type of policy is not allowed to continue ?

Was it a specific funeral plan type policy or was that just a feature of the cover, if you died during the period of the policy period ?

I have a feeling that the mention of funerals is just an example of what the policy would pay for, if you died during the policy period. It was not a policy for the rest of someones life with a guarantee of covering funeral costs. A funeral is an inevitable cost that would be incurred and after a certain age the risk increases. The premium being paid is not sufficient to cover paying out for a funeral on every policy as if that was offered, people would keep the policy going for ever, if they could afford premiums.

Hi Thank you for your responses.

Policy is a decreasing term assurance. As far as i am aware the policy just had a set expiry date.

i don't believe funeral is mentioned specifically, but this was obviously my fathers understanding through how they had explained the benefits to him.

Hi Thank you for your responses.

 

Policy is a decreasing term assurance. As far as i am aware the policy just had a set expiry date.

 

i don't believe funeral is mentioned specifically, but this was obviously my fathers understanding through how they had explained the benefits to him.

I might be wrong, but i thought that decreasing term policies were always for certain periods and were related to a gradually reducing mortgage balance, as it was being paid off.

Such policies were to cover a certain amount to cover financial liabilities if you died during the term of the policy.

I would not send an SAR. Your Father might want to revisit the policy documents he was sent originally to see what they say. If there is any miss selling involved, unless he can point to a letter or advert that was misleading,trying to get hold of conversation records from 12 years ago that evidenced miss selling might be difficult.

Hello

I have checked through all of my fathers documentation and he has not received any information from them relating to the policy that he is aware of.

The only documentation we have is what we have recently requested from them and a copy of the policy booklet which again we have only recently received. I have attached the copy of the plan which we where sent if this helps?

Documents.pdf

The policy bought was for a specific period as shown on the document linked to. Final renewal date in 2016. It was to cover a sum of £14k in 2004 and this cover would gradually decrease over the 12 year period. It was a life cover to cover liabilities for the amount of the policy, had your Father died between 2004 and 2016.

I am presuming given the amount stated that he had a mortgage or loan for about £14k in 2004 and was told he needed life assurance cover. He contacted Friends life explaining purpose of requiring a policy and the deceasing life policy was offered. Normally Insurance companies have to go through an FSA (now FCA) fact find to ascertain whether the policy was best suited to his needs. I find it very unlikely that if your Father phoned them, that they did not do the fact find to make sure the policy was the most appropriate for his needs.

By all means send the SAR to Friends life, asking for all documents, particularly those relating to the sale of the policy, but i am not sure you will obtain anything which proves miss selling.